Incorporated (Nasdaq:SIII) announced today that is has signed a Memorandum of Understanding with Psion Computers PLC, a wholly owned subsidiary of Psion PLC (PON.L), to pursue both immediate and longer-term opportunities in the emerging communications/computing convergence markets. Leveraging their complementary technologies, brands and channel geographies, the companies have agreed to examine a range of opportunities, including technology cross-licensing and joint product marketing.
S3 and Psion anticipate that the first consumer product arising from this agreement will ship to North American markets in October for this year's holiday buying season. Further details regarding this product, as well as any other specific S3 and Psion initiatives, will be unveiled at its time of launch.
"Psion has tremendous strengths in handheld computing and wireless technology and we foresee these areas as being key to our long-term business strategy," said Ken Potashner, chairman and CEO of S3 Incorporated. "With a first joint product expected to ship in October and several follow-up technology initiatives in discussion, we are broadly engaged with Psion and look forward to a productive and profitable partnership."
"This partnership represents another important step in establishing Psion as a leading international mobile Internet company," said David Levin, CEO, Psion PLC. "S3 is ideally positioned to capitalize on high-growth opportunities in the rapidly converging communication and computing device markets. There are great synergies between our two companies in terms of technologies, vision, channels and markets."
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